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  • deemus

    my mama says I'm special
    Lifetime Member
    Rating - 100%
    30   0   0
    Feb 1, 2010
    15,589
    96
    DFW
    The PPP is a loan obtained via a SBA loan originator. The rest is basically correct.
    Texas SOT
     

    tinplas

    TGT Addict
    Rating - 100%
    2   0   0
    Nov 22, 2017
    2,549
    96
    San Antonio
    There is also payroll tax relief available. The relief will also apply to contractors. That should spool up next week. Lots of stuff to keep the economy intact
     

    TexasRedneck

    1911 Nut
    Lifetime Member
    Rating - 100%
    9   0   0
    Jan 23, 2009
    14,560
    96
    New Braunfels, TX
    I don't trust the Feds......we've always operated debt-free, so our monthly income requirements are nominal - we pay everything, or set aside in a special account, all expenses involved in annual operation.
    Sorry, Uncle Sugar....y'all can keep that $$$.
     

    Younggun

    Certified Jackass
    TGT Supporter
    Local Business Supporter
    Rating - 100%
    6   0   0
    Jul 31, 2011
    53,615
    96
    hill co.
    Honest, IF I get a check and don't actually need it to pay the bills, it isn't going to sit in the bank... because you KNOW the value of the dollar is going to take a hit.

    I’ll make sure it’s in somebody else’s account losing value within the first week!


    Sent from my iPhone using Tapatalk
     

    F350-6

    TGT Addict
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    Rating - 100%
    2   0   0
    May 25, 2009
    4,237
    96
    I don't trust the Feds......we've always operated debt-free, so our monthly income requirements are nominal - we pay everything, or set aside in a special account, all expenses involved in annual operation.
    Sorry, Uncle Sugar....y'all can keep that $$$.

    Just throwing this out there. The money is already allocated in that 2.2 trillion package. The forgiven money goes to payroll first, then rent, utilities and other expenses, but it will all likely end up forgiven since it's already approved.

    Why not take the payroll money offered for free? Unless you agree with how they spend your taxes every year, you might as well get some of it back since they're going to keep taking it from you and blowing it on stupid stuff.

    Plus, if it really works out, then you can guarantee 40 hours to all employees even if work slows down and not have to actually pay for it. They probably won't understand how this all works, but will remember you kept them at 40 when times got crazy.
     

    toddnjoyce

    TGT Addict
    Rating - 100%
    4   0   0
    Sep 27, 2017
    19,285
    96
    Boerne
    Just throwing this out there. The money is already allocated in that 2.2 trillion package. The forgiven money goes to payroll first, then rent, utilities and other expenses, but it will all likely end up forgiven since it's already approved.

    Why not take the payroll money offered for free? Unless you agree with how they spend your taxes every year, you might as well get some of it back since they're going to keep taking it from you and blowing it on stupid stuff.

    Plus, if it really works out, then you can guarantee 40 hours to all employees even if work slows down and not have to actually pay for it. They probably won't understand how this all works, but will remember you kept them at 40 when times got crazy.

    You know, I’ve never met a politician that remembers the promises he’s made.

    The choice is either print funny money and get inflation or renege on the promise in varying ways, such as exceedingly complicated terms in the current legislation that results in forgiveness not being a reality for the vast majority of takers.

    The last person I want to take a loan from is the federal government.
     

    TexasRedneck

    1911 Nut
    Lifetime Member
    Rating - 100%
    9   0   0
    Jan 23, 2009
    14,560
    96
    New Braunfels, TX
    Why not take the payroll money offered for free?

    Because it's not "free". It's your tax dollars, and those of my children and grandchildren. I've never taken a dime of government "assistance" in my life, and I'm not about to start now. Others can if they wish - that's up to them.
     

    tinplas

    TGT Addict
    Rating - 100%
    2   0   0
    Nov 22, 2017
    2,549
    96
    San Antonio
    These funds are designed to help a company keep their employees working. There are other loan programs a company can take advantage of that will help them survive. These other loans aren't forgivable.
     

    dsgrey

    Well-Known
    Rating - 0%
    0   0   0
    Oct 25, 2015
    1,873
    96
    Denton County
    CARE act also allows an employer to defer their 1/2 of the social security tax - not payable until 12/31/2020. So my employer will just accrue interest on over $30 million for the remainder of the year.
     

    F350-6

    TGT Addict
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    2   0   0
    May 25, 2009
    4,237
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    Because it's not "free". It's your tax dollars, and those of my children and grandchildren. I've never taken a dime of government "assistance" in my life, and I'm not about to start now. Others can if they wish - that's up to them.

    You're right. It's not free money, but it is money that's already allocated and will be spent. Your kids, grandkids, and their grandkids are already on the hook for this money weather you take a single penny or not.

    There are requirements to make the loan forgiven. Namely keeping the employment numbers and hours up. I hate the idea of government bailouts, but if the money can be directly tied to folks getting their 40 hour paycheck if there's not 40 hours of work for them to do, I can at least tolerate it.
     

    TexasRedneck

    1911 Nut
    Lifetime Member
    Rating - 100%
    9   0   0
    Jan 23, 2009
    14,560
    96
    New Braunfels, TX
    Your kids, grandkids, and their grandkids are already on the hook for this money weather you take a single penny or not.

    I understand all that - and don't care. Each of us has to decide where they draw their line. For me, I'll sell everything I own before I'll take a red dime from the government - once you do that, they have a hook in you.
     

    F350-6

    TGT Addict
    Lifetime Member
    Rating - 100%
    2   0   0
    May 25, 2009
    4,237
    96
    I understand all that - and don't care. Each of us has to decide where they draw their line. For me, I'll sell everything I own before I'll take a red dime from the government - once you do that, they have a hook in you.

    Is it a red dime, or just a partial refund of your money that you've already paid to them?

    Not asking for you to post the numbers, but how much did you pay/owe in taxes for 2019 compared to what is being offered? Unless you approve on how they've been spending your money.
     

    Rhino

    TGT Addict
    Rating - 100%
    4   0   0
    Jan 22, 2009
    2,985
    96
    DFW Area
    I understand all that - and don't care. Each of us has to decide where they draw their line. For me, I'll sell everything I own before I'll take a red dime from the government - once you do that, they have a hook in you.

    If you were an employee taking a check from your employer that was doing this and you knew 40% of your paycheck was coming from the national debt would you quit?

    We are IN this problem. The problem is clearly not the virus but at the top.
     

    TexasRedneck

    1911 Nut
    Lifetime Member
    Rating - 100%
    9   0   0
    Jan 23, 2009
    14,560
    96
    New Braunfels, TX
    If you were an employee taking a check from your employer that was doing this and you knew 40% of your paycheck was coming from the national debt would you quit?

    We are IN this problem. The problem is clearly not the virus but at the top.

    There's a difference between being an employee and being a business owner. We're in a situation never faced before in this country - and extreme measures ARE called for. It's just that some of us are better prepared to weather the storm. Others have different standards - and we have to make our own choices.
     
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